Goldman Sachs Downgrades Franklin Resources (BEN) to Neutral

Goldman Sachs downgraded Franklin Resources (NYSE: BEN) from Buy to Neutral with a price target of $56.00 (from $60.00).

Analyst Marc Irizarry said, "While still a solid value play, we think BEN’s shares are in-line performers amid sluggish organic growth and softer near-term Global Bond performance, and we shift to Neutral."

For an analyst ratings summary and ratings history on Franklin Resources click here. For more ratings news on Franklin Resources click here.

Shares of Franklin Resources closed at $52.25 yesterday.

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